Sequoia closes London office, sunsets Arc and Scouts programs, and raises about $10B in new funds

Sequoia says it is moving past a roughly 20-year expansionary phase, flattening its partnership and merging its early and growth teams into a single unit. The firm is closing its London office, though it says departing staff were excellent and it will keep backing European founders from the Bay Area. It also sunset the Arc accelerator and Scouts programs, removed complexity from the Sequoia Capital Fund, raised about $10B in new funds, and ended the Monday partner meeting cycle. Seven General Partners now run the firm, which says its focus is high-conviction, selective investing.

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